TechTaffy

tech:

taffy

Oracle to acquire Aconex for roughly $1.2 billion

By TechTaffy Desk

Oracle has entered into an agreement with Aconex for approximately $1.2 billion, net of Aconex cash. Aconex provides cloud construction and engineering industry collaboration tools, and is based out of Australia. The company has worked in over $1 trillion in projects across 70,000 user organizations in over 70 countries, according to Oracle.

Oracle and Aconex is expected to provide an end-to-end offering for project management and delivery, working with Oracle’s Construction and Engineering Cloud, according to a statement from Oracle. After the close of the transaction, Oracle plans to continue investing in Aconex, says the company.

The Aconex board has unanimously recommended the transaction, which is expected to close in the first half of 2018, subject to shareholder approval and customary closing conditions.

More information on the acquisition is available here – https://www.oracle.com/corporate/acquisitions/aconex/index.html

[Image courtesy: Aconex]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.